Dropbox, Inc. (NASDAQ:DBX) CFO Sells $70,250.00 in Stock

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.10, for a total value of $70,250.00. Following the sale, the chief financial officer now directly owns 528,594 shares in the company, valued at $14,853,491.40. This represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Timothy Regan also recently made the following trade(s):

• On Friday, May 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $28.78, for a total value of $71,950.00.
• On Thursday, May 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $29.53, for a total value of $73,825.00.
• On Wednesday, April 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $28.29, for a total value of $70,725.00.
• On Tuesday, April 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $26.94, for a total value of $67,350.00.
• On Friday, March 28th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $26.57, for a total value of $66,425.00.

Dropbox Stock Performance

Shares of DBX stock traded up $0.30 during mid-day trading on Tuesday, hitting $28.95. 2,994,849 shares of the stock were exchanged, compared to its average volume of 3,430,322. The stock's fifty day simple moving average is $28.50 and its two-hundred day simple moving average is $28.88. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 16.19 and a beta of 0.66. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The business's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. On average, research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dropbox

Several hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after buying an additional 424 shares during the period. Elequin Capital LP lifted its position in shares of Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after acquiring an additional 469 shares during the period. True Wealth Design LLC lifted its position in shares of Dropbox by 191.0% during the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock valued at $31,000 after acquiring an additional 680 shares during the period. Brooklyn Investment Group lifted its position in shares of Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after acquiring an additional 991 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Dropbox during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 94.84% of the company's stock.

Analyst Upgrades and Downgrades

DBX has been the topic of several recent analyst reports. UBS Group increased their target price on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th. Citigroup increased their target price on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, May 9th.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.

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